Sir Jeffrey Donaldson has been an ever-present feature of the political landscape in Northern Ireland for several decades.
But his leadership of the Democratic Unionist Party came to an end on 29 March, when it revealed Donaldson had resigned as chief after he was charged with sexual offences of a “historical nature”.
Born in County Down in the 1960s, he was raised during the Troubles and has been a vocal campaigner for unionism throughout his life.
Donaldson came to the fore after the UK left the EU for his opposition to the Northern Ireland Protocol – which he believed undermined Northern Ireland‘s place in the United Kingdom.
Image: DUP leader Sir Jeffrey Donaldson did not endorse the Windsor Framework
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Donaldsonwas born in 1962 and raised in Kilkeen in County Down alongside four brothers and three sisters in what he described as “a traditional, rural, home-centred upbringing”.
As a boy, his “childhood innocence was shattered” by the Troubles – in 1970 his cousin Samuel Donaldson, a member of the Royal Ulster Constabulary, was killed in an IRA car bombing.
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As a young man, he joined the Orange Order, a protestant group in which he later became an Assistant Grand Master.
He was at one point chairman of the Ulster Young Unionist Council, and also joined the Ulster Defence Regiment – a part of the British Army which mainly consisted of volunteers, who largely spent their time guarding key points, patrolling, carrying out surveillance, and manning vehicle checkpoints.
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In 1985 Samuel’s brother, Alex, was also killed by the IRA, in a mortar attack on a police station.
Image: Alex Donaldson was killed in a mortar attack on Newry police station
Run up to the Good Friday Agreement and defection
In the early 1980s, Donaldson worked on Enoch Powell’s campaigns to be elected as an Ulster Unionist Party (UUP) MP for South Down.
Donaldson was later elected as a UUP member of the Northern Ireland Assembly in 1985 at the age of 22.
He was elected to the House of Commons in 1997 and was a member of the UUP’s negotiating team for what became the Good Friday Agreement.
However, he voted against the deal in the subsequent referendum and warned UUP leader David Trimble against supporting it.
In 1998, he was blocked from standing in the elections for the Stormont assembly.
Having continued to agitate under Lord Trimble’s leadership, Donaldson left the UUP in 2003 and joined the DUP, having been re-elected to Stormont.
Image: Sir Jeffrey, left, with Lord Trimble, during Northern Ireland peace negotiations in Downing Street in 1997
Brexit, Northern Ireland Protocol and the party leadership
Donaldson has served consistently as the DUP MP for Lagan Valley, but stood down from the Northern Ireland Assembly in 2010, having served in government in Belfast.
He was notable for his opposition to same-sex marriage and abortion – which Westminster legalised in Northern Ireland.
In 2016 he was knighted in the birthday honours list for political service.
In the same year, he supported Brexit, and became associated with the Theresa May administration in 2017 as part of the confidence and supply arrangement which saw the DUP support Mrs May’s government in key votes.
However, the party opposed the deal Mrs May put to parliament in 2019.
Since the implementation of Brexit, Donaldson has opposed the Northern Ireland Protocol, which he says undermines the Good Friday Agreement he voted against.
In 2019 he became the leader of the DUP at Westminster, and was elected leader of the party as a whole in 2021.
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Donaldson on DUP’s deal decision
He successfully stood in the 2022 Northern Ireland Assembly elections, but has said he will not take up the seat until the situation with the Northern Ireland Protocol can be resolved.
Last year, Donaldson refused to endorse the Windsor Framework, which was intended to resolve issues with the Protocol – and is still sitting as an MP at Westminster.
South Korea is preparing to impose bank-level, no-fault liability rules on crypto exchanges, holding exchanges to the same standards as traditional financial institutions amid the recent breach at Upbit.
The Financial Services Commission (FSC) is reviewing new provisions that would require exchanges to compensate customers for losses stemming from hacks or system failures, even when the platform is not at fault, The Korea Times reported on Sunday, citing officials and local market analysts.
The no-fault compensation model is currently applied only to banks and electronic payment firms under Korea’s Electronic Financial Transactions Act.
The regulatory push follows a Nov. 27 incident involving Upbit, operated by Dunamu, in which more than 104 billion Solana-based tokens, worth approximately 44.5 billion won ($30.1 million), were transferred to external wallets in under an hour.
Regulators are also reacting to a pattern of recurring outages. Data submitted to lawmakers by the Financial Supervisory Service (FSS) shows the country’s five major exchanges, Upbit, Bithumb, Coinone, Korbit and Gopax, reported 20 system failures since 2023, affecting over 900 users and causing more than 5 billion won in combined losses. Upbit alone recorded six failures impacting 600 customers.
The upcoming legislative revision is expected to mandate stricter IT security requirements, higher operational standards and tougher penalties. Lawmakers are weighing a rule that would allow fines of up to 3% of annual revenue for hacking incidents, the same threshold used for banks. Currently, crypto exchanges face a maximum fine of $3.4 million.
The Upbit breach has also drawn political scrutiny over delayed reporting. Although the hack was detected shortly after 5 am, the exchange did not notify the FSS until nearly 11 am. Some lawmakers have alleged the delay was intentional, occurring minutes after Dunamu finalized a merger with Naver Financial.
As Cointelegraph reported, South Korean lawmakers are also pressuring financial regulators to deliver a draft stablecoin bill by Dec. 10, warning they will push ahead without the government if the deadline is missed.
The ruling party’s ultimatum follows slow progress and repeated delays, with officials hoping to bring the bill to debate during the National Assembly’s extraordinary session in January 2026.
Millionaire Tory donor Malcolm Offord has defected to Reform UK, saying he would be campaigning “tirelessly” to “remove this rotten SNP government”.
Nigel Farage announced the former Conservative life peer’s defection during a rally in the Scottish town of Falkirk, where regular anti-immigration protests have taken place outside the Cladhan Hotel – which is being used to house asylum seekers.
Mr Farage, Reform UK’s leader, said he was “delighted” to welcome Greenock-born Lord Offord to Reform, describing his defection as “a brave and historic act”.
He added: “He will take Reform UK Scotland to a new level.”
During a speech, Lord Offord, who previously donated nearly £150,000 to the Tories, said he would be quitting the Conservative Party and giving up his place in the House of Lords as he prepares to campaign for a seat in Holyrood in May.
The 61-year-old said he wanted to restore Scotland to a “prosperous, happy, healthy country”.
“Scotland needs Reform and Reform is coming to Scotland,” he told the rally.
“Today I can announce that I am resigning from the Conservative Party. Today I am joining Reform UK and today I announce my intention to stand for Reform in the Holyrood election in May next year.
“And that means that from today, for the next five months, day and night, I shall be campaigning with all of you tirelessly for two objectives.
“The first objective is to remove this rotten SNP government after 18 years, and the second is to present a positive vision for Scotland inside the UK, to restore Scotland to being a prosperous, proud, healthy and happy country.”
The latest defection comes as Mr Farage finds himself at the centre of allegations of racism dating back to his time in school.
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Claims made against Nigel Farage
Sky News reported on Saturday that a former schoolfriend of Mr Farage claimed he sang antisemitic songs to Jewish schoolmates – and had a “big issue with anyone called Patel”.
Jean-Pierre Lihou, 61, was initially friends with the Reform UK leader when he arrived at Dulwich College in the 1970s, at the time when Mr Farage is accused of saying antisemitic and other racist remarks by more than a dozen pupils.
Mr Farage has said he “never directly racially abused anybody” at Dulwich and said there is a “strong political element” to the allegations coming out 49 years later.
Reform’s deputy leader Richard Tice has called the ex-classmates “liars”.
A Reform UK spokesman accused Sky News of “scraping the barrel” and being “desperate to stop us winning the next election”.
The European Commission’s proposal to expand the powers of the European Securities and Markets Authority (ESMA) is raising concerns about the centralization of the bloc’s licensing regime, despite signaling deeper institutional ambitions for its capital markets structure.
On Thursday, the Commission published a package proposing to “direct supervisory competences” for key pieces of market infrastructure, including crypto-asset service providers (CASPs), trading venues and central counterparties to ESMA, Cointelegraph reported.
Concerningly, the ESMA’s jurisdiction would extend to both the supervision and licensing of all European crypto and financial technology (fintech) firms, potentially leading to slower licensing regimes and hindering startup development, according to Faustine Fleuret, head of public affairs at decentralized lending protocol Morpho.
“I am even more concerned that the proposal makes ESMA responsible for both the authorisation and the supervision of CASPs, not only the supervision,” she told Cointelegraph.
The proposal still requires approval from the European Parliament and the Council, which are currently under negotiation.
If adopted, ESMA’s role in overseeing EU capital markets would more closely resemble the centralized framework of the US Securities and Exchange Commission, a concept first proposed by European Central Bank (ECB) President Christine Lagarde in 2023.
EU plan to centralize licensing under ESMA creates crypto and fintech slowdown concerns
The proposal to “centralize” this oversight under a single regulatory body seeks to address the differences in national supervisory practices and uneven licensing regimes, but risks slowing down overall crypto industry development, Elisenda Fabrega, general counsel at Brickken asset tokenization platform, told Cointelegraph.
“Without adequate resources, this mandate may become unmanageable, leading to delays or overly cautious assessments that could disproportionately affect smaller or innovative firms.”
“Ultimately, the effectiveness of this reform will depend less on its legal form and more on its institutional execution,” including ESMA’s operational capacity, independence and cooperation “channels” with member states, she said.
Global stock market value by country. Source: Visual Capitalist
The broader package aims to boost wealth creation for EU citizens by making the bloc’s capital markets more competitive with those of the US.
The US stock market is worth approximately $62 trillion, or 48% of the global equity market, while the EU stock market’s cumulative value sits around $11 trillion, representing 9% of the global share, according to data from Visual Capitalist.